An emerging market economy in Asia, Malaysia is a market with considerable potential for forex brokers.

Forex trading in Malaysia is no longer illegal, however it is still a relatively new concept. Forex brokers in this country are formally not regulated, although the Securities Commission in Malaysia overlooks exchange-traded products, including securities and futures and how brokers operate in the country. Meanwhile, the National Bank of Malaysia Bank Negara , which is responsible for managing the local currency the Ringgit , has also made a commitment to promote monetary and financial system stability and foster a sound and progressive financial sector.

As Islam is the official religion of Malaysia, forex brokers targeting local residents should offer special swipe-free accounts. In fact, the Islamic Financial Services Act requires compliance of these services with the Sharia.

Forex Currencies Rates Today - Foreign Exchange Rates for 21 June, on gohabizaw.web.fc2.com

FBS - an award-winning broker licensed in Belize, that has more than 8 years of experience in the forex industry. It offers its clients competitive trading conditions, wide range of trading accounts, payment methods, several trading platforms, as well as various promotions. MayBank is one of the largest banks in Malaysia and the new option allows clients make deposits and withdrawals in Malaysian Ringgits.

The Malaysian Ringgit lost ground against the U. The ringgit depreciated by 0. The next downside target level for the ringgit is seen at 3. Forex trading carries a high level of risk and may not be suitable for all investors.

Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it.

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Top Ten Forex Brokers for Traders Residing in Malaysia

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Read our Privacy Policy. Broker Country Regulation Leverage Min. Grand Capital adds MayBank as payment option for Malaysian clients Mar 21 InstaForex Partners with Marussia F1 Team Mar 25 XEMarkets Sends A Lucky Trader to Watch F1 in Malaysia Jan 29 Malaysian Ringgit Declines To 3-day Low Against U. Dollar Jan 17 Top Forex Brokers FXTM FXCM HYCM easyMarkets IG XM FxPro FX Choice Windsor Brokers FBS FIBO Group Cyprus Grand Capital TryMarkets EverFX Trading Dukascopy IC Markets OANDA City Index XTB PipIndex Capital Index PhillipCapital UK RoboForex FOREX.

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